Questions from Financial Accounting

Q: Colgate-Palmolive Company reports the following balances in its retained earnings

Colgate-Palmolive Company reports the following balances in its retained earnings. During 2017. Colgate-Palmolive reported net income of $2,024 million. a. Assume that the only changes affecting retai...

Q: Dechow, Inc., issued $250,000 of 8%,

Dechow, Inc., issued $250,000 of 8%, 15-year bonds at 96 on July 1, 2012. Interest is payable semiannually on December 31 and June 30. Through June 30, 2019, Dechow amortized $3,186 of the bond discou...

Q: Compute any interest accrued for each of the following notes payable owed

Compute any interest accrued for each of the following notes payable owed by Penman, Inc., as of December 31, 2018 (use a 365-day year):

Q: General Mills, Inc., reports the following information in cash flow

General Mills, Inc., reports the following information in cash flow statement for the year ended May 27, 2018: a. General Mills reported net income of $2,163.0 million in the year ended May 2018. What...

Q: Bushman, Inc., issues $500,000 of 9%

Bushman, Inc., issues $500,000 of 9% bonds that pay interest semiannually and mature in IO years. Compute the bond issue price assuming that the bonds' market rate is: a. 8% per year compounded semian...

Q: Bruman, Inc., issues $500,000 of zero-

Bruman, Inc., issues $500,000 of zero-coupon bonds that mature in 10 years. Compute the bond issue price assuming that the bonds' market rate is: a. 8% per year compounded semiannually. b. 10% per yea...

Q: Petroni Company engages in the following sequence of transactions every month:

Petroni Company engages in the following sequence of transactions every month: 1. Purchases $300 of inventory on credit. 2. Sells $300 of inventory for $420 on credit. 3. Pays other operating expenses...

Q: On December 31, 2018, Kaplan, Inc., issues $

On December 31, 2018, Kaplan, Inc., issues $500,000 of 9% bonds that pay interest semiannually and mature in IO years (December 31, 2028). a. Using the Excel PV worksheet function, compute the issue p...

Q: Indicate the proper financial statement classification for each of the following accounts

Indicate the proper financial statement classification for each of the following accounts:

Q: On December 3 1, 2018, Thomas, Inc., borrowed

On December 3 1, 2018, Thomas, Inc., borrowed $700,000 on a 12%, 15-year mortgage note pay-able. The note is to be repaid in equal semiannual installments of $50,854 (payable on June 30 and December 3...